Bank reconciliation confidence that every payment in and out is correct

Bank reconciliation is the process of comparing the bank balance recorded in your company's books against the balance on the bank statement, then identifying and correcting any differences. You do it to verify accuracy, prevent errors, guard against fraud, and produce reliable financial statements.

At least once a month, after you receive your bank statement. Businesses with frequent money in and out may do it weekly or even daily to monitor liquidity and reduce the risk of errors.

Common causes include checks that have been issued but not yet cashed, deposits in transit (deposited but not yet processed by the bank), bank fees the company hasn't recorded, interest income credited by the bank but not yet known to the company, bounced customer checks, and bookkeeping errors.

It should be someone who isn't responsible for handling cash or issuing checks — this is good internal control and reduces the opportunity for fraud. It's typically an accounting staff member or an internal auditor who is independent of the finance function. Business owners should also have access to the reconciliation so they can stay confident about their company's financial and accounting health every month.

The documents you'll need include the bank statement, the company's cash book and bank book, the cash receipts and payments journal, check stubs and copies of issued checks, deposit slips, and the previous month's reconciliation statement.

Review every transaction in detail going back through the records, check for misrecorded figures, duplicate or missing entries, and review the previous month's reconciliation statement. Contact the bank for more detail if needed. If you still can't find the cause, consult an auditor or a specialist.

It's a feature that lets any business compare the income and expense transactions in its bank account against the purchase and sales documents recorded in FlowAccount. You can view your daily, monthly, or yearly cash cycle with confidence, understand where every amount comes from and goes, and verify it all — without re-keying. Just connect your bank account for automatic imports KBank / ttb, or import a statement as a PDF; either works.

The system suggests matching corresponding transactions for you. Simply check that the match is correct and tap “match” to link the documents. Quick and convenient.

The bank reconciliation feature is included in all packages — Standard, Pro, and Pro Business. You can import your bank statement as a PDF file to reconcile transactions. For Pro Business users with a KBank or ttb business bank account, you can also connect Auto Bank Feed to automatically import bank transactions day by day via the Finance or MyPlatform menu. There is no additional fee for the first account.

• ttb: Connect up to 5 accounts for THB 2,990/year.
• KBank: Connect 1 account for THB 1,990/year. Additional accounts can be added for THB 1,000/year per account.